Following are the questions and answers to the Higher Secondary School Teacher - Economics in Education Department conduct by Kerala Public Service Commission on 07.03.2017. We expect this will help the candidates who are preparing for the Higher Secondary School Teacher and other degree level  exams. The purpose of this section is just to support the candidates who prepare for Kerala PSC and other competitive exams. You can always refer this website from your mobile phone on the go or from your home PC.
HSST - ECONOMICS [SR for SC/ST]
[KERALA HIGHER SECONDARY EDUCATION DEPARTMENT]
Kerala PSC Fully Solved Question Paper 2017 for Practice | Exam held on 07.03.2017
PART - 3 | QUESTIONS : 41-60

41] The value of Marginal propensity to consume is
[a] >1
[b] between 0 and 1
[c] between 1 and 2
[d] none of the above

42] Which of the following schools of thought follow adaptive expectations?
[a] New Classical
[b] Real Business Cycle
[c] New Keynesian
[d] Orthodox Monetarist

43] Insider outsider model explains
[a] Insider trading
[b] Internal and external trade
[c] Wage rigidity
[d] Interest elasticity of investment

44] Classical economists believed in
[a] Market clearing
[b] Says law of markets
[c] Neutrality of money
[d] All of the above

45] The concept of Natural Rate of unemployment is primarily associated with
[a] Milton Friedman
[b] George Akerlof
[c] Bohm Baverk
[d] Mises-Hayek

46] In the region of liquidity trap the interest elasticity of money is
[a] 0
[b] very low
[c] very high
[d] none of the above

47] Phillips curve shows the relation between
[a] tax rate and total revenue
[b] inflation and unemployment
[c] interest rate and investment
[d] income and consumption

48] Which of the following schools believe that forces determining trend growth in an economy are not different from those causing fluctuations so that they consider analysis of growth inseparable from analysis of fluctuations in economic activity?
[a] Real business cycle
[b] Keynesian
[c] Monetarist
[d] All of the above

49] Post Keynesians believe that Fluctuations in economic activity arise due to
[a] Demand side factors
[b] Supply side factors
[c] Both demand and supply side factors
[d] None of the above

50] Relative income hypothesis is primarily associated with
[a] Milton Friedman
[b] J.S. Duesenberry
[c] F. Modigliani
[d] M.J. Farrel

51] Two unbiased dies are tossed simultaneously, what is the probability that the sum of the outcomes would be eleven
[a] 1/4
[b] 1/18
[c] 1/36
[d] 1/6

52] The value of second order differential of (Total Revenue - Total Cost) a profit maximiser will be
[a] zero
[b] positive
[c] negative
[d] not defined

53] The difference between collected data and actual value is called
[a] random error
[b] statistical error
[c] sampling error
[d] both (2) and (3)

54] Which of the following is known as parametric test?
[a] F-test
[b] Z-test
[c] t-test
[d] All the above

55] Inverse probability is also known as
[a] Bayesian probability
[b] Neyman probability
[c] Egon probability
[d] Poisson probability

56] In a college 60% of the students play football, 50% of the students play basketball, 30% of the students play both football and basketball. Find the probability that students play neither of the sports
[a] 80
[b] 0.90
[c] 0.50
[d] 0.20

57] In a regression involving time series data with successive observations showing interdependency, i.e. `"E (U_iU_j)" !=0` this is popularly known as
[a] Linear correlation
[b] Auto correlation
[c] Non-linearcorrelation
[d] Multicollinearity

58] In economic analysis when dependent variables are essentially qualitative we make use of
[a] Spearman Co-efficient
[b] Quality variables
[c] Dummy variables
[d] Estimator

59] Accepting a hypothesis which is false is called
[a] Type I Error
[b] Type II Error
[c] Absolute error
[d] More information required

60] In matrix, inverse is defined only in case of
[a] Singular matrix
[b] Non-singular matrix
[c] Row matrix
[d] Plural matrix

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